USD Sliding again

[MacroBeat]

The DXY tried to break the 91.00 handle yesterday, with EURUSD sitting at its key fibo support at 1.2065.. AUD at 0.7675, USDCAD at 1.2800... and overnight we have seen the USD selling return... i still do NOT expect the USD to get back to the lows BUT a bit of a correction now that the weekend didnt create much noise on the back of our worries around US politics and potential social unrests.. but we still keep an eye out for the Jan 20 inauguration of course. Generally the USD is trading a bit softer but i keep my friendly USD bias and USD dip buyer... i do NOT expect EURUSD to break 1.2175 nor do i expect AUD to get much above 0.7750-60 and USDCAD not much below 1.2680 area... i will be fading the USD dip and buy some USD's again same as i did early 2021... i still feel that the view of the market about a USD down trend for 2021 is not correct but we come to that at a later stage

 

[tomorton]

I currently score only the EUR more bearish than the USD. But the EUR always disappoints, in the sense that I find it never stays very bearish (or very bullish) for very long. It might be this simply reflects the character of the overtraded EUR/USD, which shies away from making determined runs up or down from any price that might be selected for more than about 10 minutes at a time.

So I expect the bottom spot to be fought for again in the near term by the USD and the JPY, again. And that the USD will win.

 

[MacroBeat]

I currently score only the EUR more bearish than the USD. But the EUR always disappoints, in the sense that I find it never stays very bearish (or very bullish) for very long. It might be this simply reflects the character of the overtraded EUR/USD, which shies away from making determined runs up or down from any price that might be selected for more than about 10 minutes at a time.

So I expect the bottom spot to be fought for again in the near term by the USD and the JPY, again. And that the USD will win.

yes on balance , my bias is to buy USD dips.... BUT fact is.. the USD failed at all the levels yesterday 1.2065 EURUSD 7675 AUD 1.2800 usdcad 1.3530 area GBP even AUDJPY and CADJPY held their supports and last but not least DXY failed at the 91.00 pivot.. so easy pickings to have seen this move lower in the USD but would think that 1.2175 caps eurusd and i just started to sell some at 1.2140 and will add some nearer 1.2175... will possibly add some AUDUSD shorts too soon...

 

[Dian]

yes on balance , my bias is to buy USD dips.... BUT fact is.. the USD failed at all the levels yesterday 1.2065 EURUSD 7675 AUD 1.2800 usdcad 1.3530 area GBP even AUDJPY and CADJPY held their supports and last but not least DXY failed at the 91.00 pivot.. so easy pickings to have seen this move lower in the USD but would think that 1.2175 caps eurusd and i just started to sell some at 1.2140 and will add some nearer 1.2175... will possibly add some AUDUSD shorts too soon...

Hi All
I am back after long time. By chance I came to this forum today after clicking my computer mouse on the article in this knowledge building forum.
Can we take the current dollar rally as a bear market bounce and ready to for its correction? Thanks.

 

[tomorton]

Hi All
I am back after long time. By chance I came to this forum today after clicking my computer mouse on the article in this knowledge building forum.
Can we take the current dollar rally as a bear market bounce and ready to for its correction? Thanks.

There is certainly opportunity for being long the USD. I have it second in bullishness right now only to its sibling, CAD. I am already long CAD/JPY but USD/JPY would be as good.